450 Park Avenue
Update
04/26/22
Midtown Office Tower Trades for $445M
A 33-story office building, located at 450 Park Avenue in Midtown, Manhattan has just been sold for $445 million. The structure was purchased by SL Green Realty Corp from the previous owner, Oxford Properties, in a deal brokered by CBRE.
Originally built in 1973, it stands feet tall and totals square feet. Back in 2002, the owner at the time, Taconic Partners, completely overhauled the interior. Improvements included a renovated lobby, upgraded elevators, redecorated public corridors and restrooms, and upgraded building systems.
450 Park offers approximately 300,000 square feet of office space, complete with fully flexible floorplates. Floor-to-ceiling windows light up the workspaces and provide great views of the surrounding Midtown area. Full floors are also available, which can be customized to a tenant's functional needs and aesthetic tastes.
In addition to office space, the building offers over 32,000 square feet of retail space on the ground and second floors. This equates to 193 feet of frontage on Park Avenue and 57th Street in one of the city's most exclusive districts.
Having acquired the tower back in May of 2014, Oxford Properties is parting ways with 450 Park after almost 8 years of ownership. The sale marks SL Green's first purchase of an office property since 2018.
